Denmark’s DONG acquires gas assets in swap with ConocoPhillips
Danish oil and gas company DONG has sold part of its stake in Norwegian licence PL273 to ConocoPhillips, the company said on Wednesday. In return DONG acquired ConocoPhillips’s share in UK licences P.911, P.912 and P.967, as well as ConocoPhillips’s share in Faroes licence F003.
The deal reduces DONG’s stake in PL273 from 30% to 10%, and gives it 20%, 5.66%, 22.5% and 30% in P.911, P.912, P.967, and F003 respectively. DONG said the acquired shares all have gas interests.
The company could not comment on how much gas it would receive or whether it would use the newly acquired assets in a move to begin marketing in the UK, as all licences are still in the appraisal stage and it was too early to say. ConocPhillips said the deal allows it to expand its interests in the greater Ekofisk area, but would not comment further. GD.
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